Bank of America, Bank of Greed...

OK guys.. I'm angry, damn angry..

Been averaging 80 hour week work schedule to stay current with my credit cards. Managed to cut 35% so far. I was assured 8.9 APR until paid. Just noticed they've been charging me 20.99 % since September. Was way too busy to notice it.

When I called, Mr. KNOW IT ALL's explanation was, I'm making a little more than the minimum payment and that's not good enough.

I closed my account on the spot and told them I get back 8.9 APR plus back interest paid or this account and only this one would go to settlement and I'll probably settle it for couple thousands.

In other words, when we're working real hard to stay up and running, this is the time they try to beat us down....

That's the company that got 15 billion dollars of taxpayers money and already wasted it.

Stay tuned...

I know the feeling, they are ruthless!!

Thanks Shazzers.

Seems like there's not much I can do other than pay it somehow which I will..

Does anyone know if we have any type of rights against those ba$tards? (excuse the language)

BOA has zero conscience, it's business as usual for them. The only suggestion I can give you is to contact one of the CEO's. Send them an email that is well written, polite and lay it on the line for them. I can give you a link to a site that searches for such email addresses. Another thing you might do is submit a complaint to "The Consumerist", Ben Poken is the Editor there and he has done several articles about BOA. Copy and paste the link below into your browser, I had to deactivate it per the TOS rules. You can then get one of the CEO's email addresses. It's worth a shot and what the heck, you just never know, you may get an answer or some type of resolution, I know I did on another matter. I complained and wrote to everyone and anyone I could think of and low and behold I got an answer! The website is "Executive Bomb" the link is:
'http://executivebomb.com/index.html'

writing the CEO is worthless.....they would never respond to a consumer...per legal

I would call the legal recovery department + write the detailed letter and tell them you want to file a grievance with how your account has been handled. They have to per "company policy" send your account to a manager to review it.

It wasn't worthless for me guest23!!

I've been banking with BofA for 10 years now, and every year I keep promising myself I am going to leave them for good and go with a credit union for something. As of late, the only way I can ever seem to get anything done is to call the CEO's office ( and everytime, they always ask "how did you get this number?" ) but everytime, my *polite* ranting actually gets the result I want. So, you may try calling the CEO's office and talking to someone there to see if that helps you resolve the matter at all. If not, I would still go the route of writing a polite letter. Good luck.

Anjeim, the same thing happened to me! I did catch the increase on the interest rate so I called and they did lower it, but they say I was told ( I was not told) that I could not use my card again and if I did I would have an increase on the IR.
Well, I used it and they raised it. I called and begged and pleaded and I was told there was nothing I can do because I used my card. I finally talked to someone and they told me to write a "reconsideration letter". I did and I was denied. So I wrote another one and was denied!
This card has a high balance and I have been a loyal customer.
I even told them I would put down a large amount to show that I want to pay this off as soon as I can.
I was denied and told that I could go into some stupid program that makes me pay the same amount each month for 5 years and it has a lower interest rate. looking at what I have to pay and how long it will take made me realize this is not a program for me.
Maybe writing a letter might work for you, I would try it and see.
Amaranth, how did you get the CEO's number? I want to try one more time and write to them, maybe that might work.

Let me clarify...I'm not adverse to writing letters....but writing your personal story to a CEO of lets say BOA or Citi....will never get answered by them. It's like when little kids write their favorite baseball player and ask for their autograph, most times a person in the communications department does it.

Thanks for all the input.

I called again and again, same answer. No lower rate is available. I called take charge America, they couldn't do anything but were very friendly.

What I don't understand is that when we're really trying to save our credit, they give us another hit and get us one step closer to settlement or other programs that'll screw up our credit.

I plan to pay it off in the next few weeks... Nevertheless, I'll keep trying. I'll take Amaranth's advice. Calling and ranting 16 times a day politely won't bring my fico score down and maybe they'll get tired of me and lower it...

I will never do business again with Bank of America. I opened a credit account in 2000 at a fixed 11.99% rate with MBNA. They were bought out buy BoA. A few months ago they raised my rate to 29.99%. I did not notice the increase for a few months. When I called them they said they sent notice to me about the increase. I told them I did not receive any mailing from them. They told me they gave me notice via internet banking. I told them I received nothing in that format either. I told them to change the rate back or close the account. I told them that my contract with them was for a fixed rate and they could not change that rate unless I defaulted with their company per their agreement. The operated wanted me to take an interview revising all of my financial information and I told him to forget it. Of course the guy tried to argue with me about that and I told him to revert it back or I would no longer use their card. They cancelled the account and I paid the balance in full.

Here are the numbers to the Chairman's office. Typically you will be connected to one of their "desk officers". I typically start with... "I have some concerns about my account..." and go from there, and for the most part, the first person can help you without transfering you to a million different departments ( at least, in my case ).

I hope they will help resolve the matter with you. If not, at least you know that you have now exhausted all your options and that they don't deserve your business. I have found that politeness and humbleness are key with these people. Good luck.

Start with the first #

Executive Customer Relations: 704-386-5687
Corporate Headquarters: 704-386-5972 / 704-386-5681

Yes, I've been had -- and in a very, very short period of time with accounts ALL in good standing -- for years w/accounts that were NOT theirs, but MBNA or BankOne -- whom were very good companies! I never minded paying them finance charges, if I needed to; but NOT with BofA. They're really bringing down their own house!! while ruining my credit score!!! I've worked hard all my life for good credit -- to use it now and to lean on WHEN I need it! Why not just let the finance charges keep rolling in! No, they have to 'get scared' and cause me all sorts of problems. Thanks -- I'm going to call corporate; I was going to call once more; negotiate; if that didn't work, get a fax number and send my complaints and resolutions to them. Pray for me. I have a son, a house, and a business to rebound!!

Very true. BOA is the reason my fico score went down even though I'm still current on all my accounts.

I had $35,000 line of credit with MBNA with a very good APR. BOA took over. I paid off the entire amount before the special APR expired. Shortly thereafter, BOA blocked my account. I started asking credit from other companies and my score started going down. Other credit card companies started following suit and lowering my line of credit and the snowball kept on rolling bigger abd bigger...

No you won't win BOA. You'll be paid soon and I hope you got to hell afterwards...

Thanks for the numbers anjeim, I'm going to call!
I just realized that MBNA is who I was with first and then it changed to BOA. I usually pay my bills on line and I have 2 accounts with them and somehow I made 2 payments to one account. They called me everyday, even after it was resolved. It was so annoying to tell my story to everyone that called. I don't know if I can go through 120 days of that if I decide to settle.

Should I pay off my account with the smaller balance and just deal with the one that has the higher balance?
Help!

Actually thanks to Amaranth for the numbers. I did call. They lowered it to 17.99. Better than 20.99. I'm still going to pay it off as soon as possible. Too bad I'll be taking money away from my IRA pension plan.